Singapore Hiring Outlook Dims Amid Economic Uncertainty in Q3 2025
Table of Contents
- Singapore Hiring Outlook Dims Amid Economic Uncertainty in Q3 2025
- Key Findings of the ManpowerGroup Survey
- Reasons for Hiring and Downsizing
- Sector-Specific Outlooks
- Hiring Expectations by Company Size
- Singapore Employment Outlook: Key Figures
- Global Context
- Expert Insights
- Understanding Singapore’s Evolving Job Market
- Frequently Asked Questions About Singapore’s Hiring Trends
Singapore’s job market is showing signs of cooling as economic headwinds prompt employers to become more selective in their hiring practices for the third quarter of 2025. A recent survey indicates a slight dip in hiring optimism, reflecting a cautious approach amid global uncertainties. The ManpowerGroup‘s quarterly employment outlook survey, which polled 525 employers, reveals that nearly 70% acknowledge that economic uncertainty is significantly impacting their hiring decisions.
Key Findings of the ManpowerGroup Survey
The net employment outlook,a key indicator of hiring confidence,has decreased by a modest 3 percentage points to 24% after seasonal adjustments. This figure, derived from an April poll, represents the lowest point in a year, although it remains 4 percentage points higher than the same period in 2024.
did You Know? The U.S. Bureau of Labor Statistics projects healthcare occupations to add the most new jobs between 2022 and 2032, at about 1.3 million new jobs.
U.S. Bureau of Labor statistics
Of the surveyed employers,43% plan to increase their workforce,while 19% anticipate reductions,and 38% foresee no changes in their hiring plans.
Reasons for Hiring and Downsizing
Companies primarily cite expansion as the main driver for hiring. Other significant factors include the need for updated skills to maintain competitiveness and the demand for expertise in emerging technologies.
Conversely, economic uncertainty is the most prevalent reason for staff reductions, cited by 42% of employers, followed by the necessity to adapt to evolving market dynamics.
Sector-Specific Outlooks
The healthcare and life sciences sector leads with a net employment outlook of 43%, marking a 7 percentage point increase from the previous year but a 6 point decrease from last quarter. The information technology sector follows closely with a 36% outlook, while transport, logistics, and automotive report a 31% outlook.
Interaction services and energy/utilities sectors both report a net outlook of 21%, while “other” sectors, including government, public service, non-profits, and educational institutions, stand at 27%.
Pro Tip: Regularly assess your company’s skill gaps and invest in training programs to ensure your workforce remains competitive in a rapidly changing market.
The finance and real estate sector reports an 18% outlook after three consecutive quarters of decline, industrials and materials stand at 14%, and consumer goods and services at 13%.
Notably, the energy and utilities sector continues its recovery from negative territory observed two quarters prior.
Hiring Expectations by Company Size
hiring expectations vary significantly based on company size. Firms with fewer than 10 employees report a 37% net outlook, while those with 250 to 999 employees post a 27% outlook.
Larger companies with 1,000 to 4,999 employees exhibit the most optimistic outlook at 41%. However, this figure drops sharply to 14% for the largest firms with over 5,000 employees, 16% for small firms with 10 to 49 employees, and just 8% for those with 50 to 249 employees.
Singapore Employment Outlook: Key Figures
| Sector | Net Employment Outlook (%) |
|---|---|
| Healthcare & Life Sciences | 43 |
| Information Technology | 36 |
| Transport, Logistics & Automotive | 31 |
| Communication Services | 21 |
| Energy & Utilities | 21 |
| Finance & Real Estate | 18 |
| Industrials & Materials | 14 |
| Consumer Goods & Services | 13 |
Global Context
The global net outlook for the third quarter across 42 economies, including Singapore, mirrors Singapore’s at 24%, down 1 percentage point from the previous quarter. According to the OECD, global economic growth is projected to remain moderate in 2024-2025, with ongoing geopolitical risks and varying growth rates across countries.
OECD Economic Outlook
Expert Insights
ManpowerGroup Singapore Country Manager Linda Teo notes that while the overall outlook has softened, a more detailed analysis reveals a complex situation. Employers are retaining talent while strategically investing in future-proofing their workforces, adopting a cautious approach to the global trade environment.
“This underscores a shift towards greater workforce agility – aligning talent investments with evolving market dynamics,” Teo added.
Understanding Singapore’s Evolving Job Market
Singapore’s job market has historically been characterized by its adaptability and responsiveness to global economic trends. The current shift towards cautious hiring reflects a broader trend of companies prioritizing efficiency and strategic investments in talent progress. As technology continues to advance, the demand for specialized skills in areas such as data analytics, artificial intelligence, and cybersecurity is expected to grow.Companies that proactively address these skill gaps will be better positioned to thrive in the long term.
Frequently Asked Questions About Singapore’s Hiring Trends
- What are the long-term implications of the current hiring trends in Singapore?
- The current trends suggest a need for workers to upskill and reskill to remain competitive. Companies may also need to explore choice staffing models, such as contract or freelance work, to manage costs and access specialized talent.
- How can job seekers in Singapore navigate the current hiring landscape?
- Job seekers shoudl focus on developing in-demand skills,networking,and tailoring their resumes and cover letters to specific job requirements. Thay should also be prepared to demonstrate their adaptability and willingness to learn.
- What role does government policy play in shaping Singapore’s hiring outlook?
- Government policies,such as skills development initiatives and incentives for companies to invest in training,can significantly influence the hiring outlook. Policies that promote innovation and entrepreneurship can also create new job opportunities.
What strategies do you think Singaporean companies should adopt to navigate the current economic uncertainty? How can individuals best prepare for the changing job market? Share your thoughts in the comments below!
